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Y1 - Principles of Economics and Business 1

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Lectures

Week 2

Universiteit van Amsterdam · Business Administration

Y1 - Principles of Economics and Business 1

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Lecture 2: Choices with Willemijn van Dolen
Presentation by Prof dr. Marteen Pieter Schinkel
Core Idea
Demand
Supply
Guest Lecturer: Choices with Willemijn van Dolen
Consumer Dynamics
Lecture 2: Choices and Marijuana Markets
Opening case: Krugman on Canada
Equilibrium maximises the gains from trade
Does more demand create welfare?
Comparative statics: shifts versus movements
The oil market: shocks in practice
Two types of dynamics: which one is faster?
Guest lecture: Willemijn van Dolen on marketing
Hayek: The Use of Knowledge in Society (AER, 1945)
Marijuana markets
Will there be money in marijuana?
Preview of Week 3

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